| A Tale of 939 Cities |
| Written by Jonathan Smoke | |
| 03.03.2008 | |
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Discuss this article on the forums. (0 posts) Despite what may happen year to year, quarter to quarter or month to month, an accepted truism in housing is that “all real estate is local.” Local supply and demand, driven by trends in jobs, incomes, household growth, permits, and home prices determine the conditions for local markets. I’ve heard from many housing professionals—from realtors to lenders to developers to builders—that they are having a tough time getting the public to understand that markets are different. Topeka doesn’t like being described like Miami. Little Rock isn’t like Detroit. Oklahoma City isn’t quite like Los Angeles. Albemarle shouldn’t be compared to Phoenix.  The current temper regarding market conditions feels like it’s straight out of a Dickens’ novel, thanks to the hype about the travails of a few dozen large markets that were due for a fall.Now more than ever, housing professionals need to stay on top of the markets they follow to know how their markets compare to the “national” scene. But it’s not just a tale of two markets. To cover the nation, it’s a tale of 939 markets. From the inception of HousingIntelligence last year, we have sought to provide very cost effective basic research to allow our subscribers to do more than just guess about housing conditions. We’re happy to announce now that we’ve expanded the scope of our coverage to reach literally every major and minor market in the United States with our reports. Enhanced subscribers can now access 939 different markets! That’s right, we now cover all 939 Metropolitan and Micropolitan Statistical Areas in the U.S. as defined by the Office of Management and Budget (OMB) in their latest update. Don’t settle for simple national statistics that have limited illumination of what is happening locally. Whether you are in Atlanta, GA or Arkadelphia, AR; Houston, TX or Hilton Head Island, SC; or Washington, DC or Willimantic, CT you can track your own metrics and compare your market’s performance to all markets nationally. Collectively, these 939 markets cover 93.3% of the households and 93.4% of the home sales in the U.S. Each market on HousingIntelligence has three reports that are updated monthly. The Market Dashboard report provides quick graphical review of all key housing stats and trends including employment, households, permits, home prices, affordability, rents, and demographics. The Forecast report provides a multiyear view of the latest forecasts for key metrics such as employment, households, permits, home ownership, home prices, affordability, and home sales. The Equilibrium report provides multi-year view of expected vs. actual permits as a way to monitor the state of equilibrium. Subscribers can access these reports for a single market using a local enhanced subscription. National enhanced subscribers have access to all 939 markets. Don’t just guess or settle for a “national” read on the housing market. No matter where you live or invest, we’ve got your market covered. 
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